FirstPoint Journal

Eccentric Commentary from the boys at FirstPoint

What’s the best season for buying a home?

If you’ve been reading the papers you’ll know all about the surge in new listings that’s expected after winter ends next week.  It looks like this spring promises more of the same, whilst the RBA has been trying to cool the surge in housing, by reducing interest rates, can’t quite work that one out, new…

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The Lure of Entrepreneurship–Australia’s Start Up Culture

One in three Australian’s have an ambition to own their own business, proving Australia’s start-up culture is alive and well. A new report from NAB Economics, surveying 1,000 Australians, reveals a strong entrepreneurial spirit among aspirational business owners. Among the key findings of the survey: Around 1 in 3 Australians would like to own their…

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A LESSON FROM THE GREATEST

Nothing reflects more of what Muhammad Ali stood for than his quote “he who is not courageous enough to take risks will accomplish nothing in life” Ali’s courage to pursue the right course of action as opposed to that of least resistance provides inspiration for all of us to step out of our comfort zones…

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RBA makes much anticipated cash rate decision

The Reserve Bank of Australia has delivered its decision from its monthly board meeting.  Board members decided to slash the cash rate from 2% to a new record low 1.75%. Economists are saying underlying inflation is undershooting the 2% to 3% target band, and that suggests little risk in cutting rates further.  They’d also be…

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RBA Keeps the cash rate on hold, yawn!

The Reserve Bank of Australia has announced the outcome of its monthly board meeting. As predicted by a vast majority of experts and me (needed to get that in), the board decided to leave the official cash rate at a record low of 2 per cent, where it has been since May 2015. Thirty–four out…

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Negative gearing changes could see prices fall by 6%

Changes to negative gearing policy could push rents up dramatically, while simultaneously putting a dampener on property values, new building and GDP, according to a new report. The report from BIS Shrapnel, predicting that changes to negative gearing could push unit rents up by as much as 10% by 2026, has reignited fears that proposed…

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Getting a loan pre-approval is a good idea, but there are a few things you need to know.

Unless you have gold buried under the bed or a money tree growing in the yard you probably need to borrow to buy your next property. A pre-approval is a conditional lending document that is a must if your a prospective buyer.  It answers the first question; “How much can I afford to borrow?” Once…

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Foreigners forced to sell property

Treasurer Scott Morrison has ordered the forced sale of eight residential properties illegally held by foreign nationals. Mr Morrison said the properties were purchased in Victoria, Queensland and NSW, with prices ranging from $200,000 to $5 million. The buyers were from Canada, China, India, Malaysia and the US.  They either purchased property without approval from…

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RBA Rate Announcement

The Reserve Bank of Australia has made its final interest rate decision of the year at its monthly board meeting.  The board confirmed most punters expectations by leaving the official cash rate at a record-low setting of 2 per cent, where it has been since May. All 33 economists and commentators recently surveyed by comparison…

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Brief Update: House Price Outlook – November

According to the latest NAB research Australian residential property growth has continued to surpass expectations in recent quarters, suggesting more limited scope for further gains. Consequently, NAB Economics has reduced its forecast for detached house price growth in 2016.  But, they’re still predicting growth, nationally prices are forecast to increase 2% in 2016 (down from…

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